YRC, Teamsters Continuing Negotiations
Less-than-truckload carrier YRC Worldwide Inc. and the Teamsters union have traded plans this week to help the company generate short-term cash, the Teamsters said.
A subcommittee of the Teamsters National Freight Industry Negotiating Committee and YRC exchanged proposals earlier this week and negotiations are continuing Wednesday, according to an update on the Teamsters’ Web site.
The parties began talks Monday at the Teamsters’ headquarters in Washington. (Click here for previous story.)
A 10% wage reduction agreed to earlier this year will continue throughout the life of the current National Master Freight Agreement was estimated to save at least $225 million a year. Pay and benefits of non-union workers also were cut.
YRC Worldwide is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.